This Ethereum Hacker Returned 30000 Stolen Ether Worth $26 Million

We all know very well that last year, the rise of bitcoin pulled the price of other cryptocurrencies as well. The ether, with the second highest market value, rose 9162% – and this led to several assaults. Now, according to the latest reports, recently a hacker returned $26 million worth of Ethereum back to this hacked company.

Last year, the rise of bitcoin pulled the price of other cryptocurrencies as well. The ether, with the second highest market value, rose 9162% – and this led to several assaults.

One of them occurred with CoinDash, a startup that prepares a platform for trading crypto coins. In July 2017, a hacker hacked into the company’s Web site and received ETH 43,400 during an initial coin offer (ICO). Now that hacker has returned some of the stolen money.

As Bleeping Computer explains, the value was sent back in two parts. The first was transferred in September, totalling 10 thousand ETH (the US $8.7 million); the second was last Friday (23) when the hacker returned another 20,000 ETH ($17.45 million).

However, the hacker still has more than 13,400 ETH ($11.7 million). It is worth noting that, at the time, the total assault amounted to only $7.4 million. CoinDash’s website was hacked during ICO, and the portfolio address to receive investors’ money was changed.

But why the hacker returned the stolen coins? Some experts believe that the hacker can not use ether because the address of his wallet has been blacklisted. Most trading platforms identify your wallet as “FAKE_CoinDash,” and refuse to convert funds for fear of being processed.

There are also those who believe the invasion was an inside job, and the hacker only returned the funds after the SEC – the US securities commission – began tracking ICOs more closely. Others think it’s a marketing scam to get attention to CoinDash.

One way or another, the money irrevocably returned to CoinDash. The company says it is working with Israel’s anti-terrorist unit to identify the hacker.

This Ethereum Hacker Returned 30000 Stolen Ether Worth $26 Million
Reviewed by Rapheal Chukwumah
on
March 03, 2018
Rating: 5